Welcome to Section 2 and the first topic of the Finances After Separation course - Your Financial Picture.
We will be talking about your finances and helping you to see the big picture of where you stand financially.
Your family is unique and it is important to understand what money means to you and what type of money personality you and your former partner have. This is a good place to start when taking charge of your family’s finances, especially now that there will be two households.
Creating a net worth statement and a budget can help you to take the first steps to organizing your finances after separation. To complete these, you will need to consider the value of your assets and your debts. You will also have to think about your income and expenses – for a month and for the year.
Sometimes in relationships, one person has a better handle on money matters than the other person. Now that you are separating, it’s important to be sure that you have a clear understanding of your financial picture.